If your wallet rivals the size of George Costanza’s (everyone remembers that iconic Seinfeld episode, right?), you might be very happy to hear that a popular app–which has recently come to Canada–will eventually eliminate the need for a wallet altogether.
Internationally recognized e-commerce and digital payments ecosystem, Paytm has over 230 million users and 8 million merchants in India. The company launched its Canadian operations in March 2017 from its downtown Toronto headquarters.
The Paytm Canada app is unique–and incredibly special–in the sense that it offers users a seamless and convenient way to pay all their bills using their smartphone. And, you will collect Paytm Points with with every transaction, which you can redeem for a free or discounted gift card.
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The app allows multiple payment methods, so that you can link your credit card, debit card or bank account and also use Paytm Cash.
As for what inspired the creation of the app, the company says that Paytm was launched so that everyone–no matter their annual/monthly/weekly income–has access to everything with the convenience of their smartphone.
“Providing a service such as buying or selling gold for as little as 1 Rupee ($0.18 CAD) to the average Indian consumer is unheard of, and that’s something that we take pride in,” says Naqiyah Rampuri, a Paytm representative.
“Here in Canada, paying a bill is a necessity. And, we want to make the experience as seamless and rewarding as we possibly can.”
To make life even easier, users are now able to pay their property taxes with their credit card when they make a payment using the Paytm Canada app (which is something that might not be possible through your financial institution alone). And, when you pay using your credit card on the App, Paytm Points will not conflict with your credit card points program.
Until November 5 when you pay your credit card bill using the Paytm Canada app, you can collect up to 2,000 Paytm Points. There’s no other app that gives you rewards for paying off your credit card bill!
So, how exactly does Paytm work?
You can add a bill from a major service provider–think Rogers or Bell or another company–and pay the bill using the app. For every transaction that you make with the app, you will collect Paytm Points–which means one point equals $1 spent. Whenever you pay a bill, you collect points and become eligible for rewards.
You can redeem your points for a free or a discounted gift card from major companies such as Uber, Tim Hortons, Esso, Just Eat, Cineplex, Amazon.ca and more. Fortunately for users, points add up fast. Once customers collect as little as 5,000 points, they can redeem them for a $5 gift card.
New customers can also enjoy a big bonus.
For a limited time only, Paytm Canada is offering new customers 10,000 Welcome Points–that’s a $10 value. They can get these complimentary points when they download and sign up for the Paytm Canada app.
But rewards aside, one of the biggest benefits of Paytm is the incredible convenience it offers.
Paying a bill is easy, as the Paytm Canada app has over 5,000 service providers available, meaning the majority of bills paid by Canadians can be found on the app. The app is also great for paying other users, as you you can Paytm-to-Paytm (P2P) money to other Paytm users nationwide for as little as $1.
Paytm also sets itself apart by offering an invaluable service–a Set it & Forget it feature.
With Set it & Forget it, users never have to worry about missing a bill payment.
As for how it works, customers can schedule all of their bill payments in advance by pre-selecting the date that they want to pay. Users can also select the frequency of how often they want to pay that bill, such as once, monthly, quarterly or annually.
After that, users simply enter the amount they want to pay, and their preferred payment method for that bill.
“Whether you want to make the bill payment using Paytm Cash, credit card, debit card or your linked bank account, you’re in control of choosing the payment method for each bill,” says Rampuri.
And although the app only launched in Canada a short time ago, users are already overjoyed that it’s here.
“The feedback that we have received and continue to receive from our customers is very positive,” says Rampuri.
“Once customers set up their bill account details, they love the convenience and rewards that our app provides. Plus, with our multiple payment options, customers have the choice to pay their bills the way they want. No more fiddling around with multiple passwords in order to login to seperate accounts. You can be at work, on your commute, even traveling and with a few quick taps your bills are paid.”
When you refer a friend–and they use your unique referral code upon sign up–you both receive a 5,000 point bonus when they pay a bill of $50 or more.
Paytm is available for both Android and iPhone.
For more information, click here.